Photo: FREDERIC J. BROWN / AFP / Getty Images
Ford is delaying production for its new electric "Lightning" pickup truck and Mustang SUV by one year.
This comes as the demand for EV's hasn't developed the way executives had hoped.
But the Michigan-based company will continue to expand its hybrid vehicle offerings while pushing back its EV pickup truck and SUV rollout to 2026 and 2027.
Ford’s CEO has been telegraphing the delays for months after postponing $12 billion in planned investments last fall.
Then on an earnings call in February, CEO Jim Farley said, “Hybrids will play an increasingly important role in our industry’s transition and will be here for the long run.”